The global Neurological Biomarkers market size is expected to be worth around US$ 16.10 billion by 2028, according to a new report by Vision Research Reports.
The global Neurological Biomarkers market size was valued at US$ 5,564.10 million in 2020 and is anticipated to grow at a CAGR of 14.10% during forecast period 2021 to 2028.
Neurological biomarkers can be used for diagnostics, drug discovery, or personalized medicines among other applications. These products may be employed in drug development to reduce attrition rates during clinical trials. Some neurological biomarkers can further be used to predict drug failures early in the development process by determining their pharmacological effect on patients, which helps the pharmaceutical company obviate additional costs associated with further clinical trials.
There remains a significant dearth for in-depth knowledge of the pathophysiologies of several neurological disorders, thus resonating with the unmet need for more research and increased funding for the same. Though technological advancements and rising consumer awareness are flag-bearers in this market growth, there remains considerable scope for advanced diagnostics - in terms of precision, specificity, and test time.
The diagnostic landscape in this market is gradually shifting towards genetic testing and counseling. Biomarker signatures are a rising trend in the diagnosis and treatment of neurological diseases. This has resulted in non-invasive testing, faster drug development, and early diagnosis of abnormalities/diseases. Furthermore, digital biomarkers provide various pharmaceutical companies with contextual and supplemental information to conclude clinical trial decisions. For instance, IXICO plc is collaborating with biopharmaceutical companies to validate clinically digital biomarkers and use them in clinical trials.
Alzheimer’s disease is the leading application of neurological biomarkers, recording the highest prevalence among sexagenarians and older people. Amyloid-β (Aβ42), total tau (T-tau), and phosphorylated tau (P-tau) are some of the key cerebrospinal fluid biomarkers reflecting the pathophysiology of this condition. Identification of these biomarkers in the early stages of the disease can help in timely treatment.
There are ground-breaking research trials ongoing for improved diagnostics of Parkinson’s disease. Earlier, protein biomarkers, amino acids, and dopamine metabolites were the prime analytical tools for diagnosing Parkinson’s disease. However, several novel candidates are under investigation for potential diagnostic biomarkers.
Genomic neurological biomarkers accounted for the largest share in 2018, driven by rising consumer awareness and technological advancements. The segment growth is also supported by the shifting diagnostic paradigm towards gene analysis and genetic counselling. Genomic biomarkers can direct the future of neurological practice towards a more personalized approach based on the patient’s individual genetic specifications and predispositions.
Imaging biomarkers are positioned to reflect the highest growth rate through the forecast years, fueled by extensive R&D in neuroscience and technological advancements that have enabled visualization of abnormalities within the body. Furthermore, proteomic and metabolomic biomarkers are expected to witness modest growth in the near future.
Hospital laboratories dominated the end-use segment, in 2018. The growth of this segment can be attributed to increasing patient inflow for cancer diagnosis in hospitals, growing consumer awareness, and rising investments in healthcare infrastructure in developing and underdeveloped countries.
The market for research organizations is expected to grow at the highest rate during the forecast period owing to increasing funding for neuroscience research worldwide. For instance, the NINDS Human Biomarkers Biospecimen and Data Repository (BioSEND) is dedicated to the discovery and identification of neurological biomarkers.
North America accounted for more than 37% market share in 2018, owing to strong commercial performances of neurological diagnostics in the U.S. Some of the other factors contributing to the growth include proactive government initiatives, increase in healthcare expenditure, and local presence of key manufacturers.
Abbott; QIAGEN; Myriad RBM; Thermo Fisher Scientific Inc.; Athena Diagnostics; Bio-Rad Laboratories, Inc.; AbaStar MDx, Inc.; Acumen Pharmaceuticals; BANYAN BIOMARKERS, INC.; and Alseres Pharmaceuticals, Inc.
Autism Spectrum Disorders
Independent Clinical Diagnostic Centers
Middle East & Africa
The Neurological Biomarkers market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Neurological Biomarkers market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Neurological Biomarkers market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Neurological Biomarkers market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Neurological Biomarkers market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Neurological Biomarkers capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Neurological Biomarkers by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Neurological Biomarkers market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Neurological Biomarkers market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Neurological Biomarkers market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Neurological Biomarkers industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Neurological Biomarkers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Neurological Biomarkers market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Neurological Biomarkers market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Neurological Biomarkers market. These factors have benefited the growth of the global market for Neurological Biomarkers. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Neurological Biomarkers. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Neurological Biomarkers are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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